On to RBNZ.. Watch the Head and Shoulders
Kiwi likely to come under pressure on RBNZ rate cut, which is already priced in but the current risk off sentiment could weigh on the New Zealand dollar (N61!) in the near term. Watch the head and shoulders pattern, which will be triggered on the break of the rising neckline support.
Downside targets: $0.7030 and $0.7000
Downside targets: $0.7030 and $0.7000
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.